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Registration number: 09192915

John Shepherd Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

John Shepherd Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

John Shepherd Ltd

(Registration number: 09192915)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,262

4,350

Current assets

 

Debtors

6

11,084

-

Cash at bank and in hand

 

363

1,900

 

11,447

1,900

Creditors: Amounts falling due within one year

7

(7,916)

(5,603)

Net current assets/(liabilities)

 

3,531

(3,703)

Total assets less current liabilities

 

6,793

647

Provisions for liabilities

-

(42)

Net assets

 

6,793

605

Capital and reserves

 

Called up share capital

100

100

Retained earnings

6,693

505

Shareholders' funds

 

6,793

605

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

John Shepherd Ltd

(Registration number: 09192915)
Balance Sheet as at 30 September 2023

Approved and authorised by the Board on 16 February 2024 and signed on its behalf by:
 

.........................................
J D Shepherd
Director

 

John Shepherd Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7a King Street
Frome
Somerset
BA11 1BH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax, and is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements, and is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

John Shepherd Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% per annum on reducing balance

Computer equipment

25% per annum on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition; it is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% per annum on cost

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business, and are recognised initially at the transaction price.

Assets held under hire purchase agreements

Assets held under hire purchase agreements are capitalised at their original cost and depreciated in accordance with the company's policy as shown above.

The obligation to the hire purchase company is included in creditors in the Balance Sheet; repayments are apportioned between interest payable in the Profit and Loss Account and reduction of the hire purchase obligation, so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

John Shepherd Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

10,000

10,000

At 30 September 2023

10,000

10,000

Amortisation

At 1 October 2022

10,000

10,000

At 30 September 2023

10,000

10,000

Net book value

At 30 September 2023

-

-

5

Tangible assets

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

1,620

18,335

19,955

At 30 September 2023

1,620

18,335

19,955

Depreciation

At 1 October 2022

1,620

13,985

15,605

Charge for the year

-

1,088

1,088

At 30 September 2023

1,620

15,073

16,693

Net book value

At 30 September 2023

-

3,262

3,262

At 30 September 2022

-

4,350

4,350

6

Debtors

2023
£

2022
£

Trade debtors

11,084

-

11,084

-

 

John Shepherd Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Creditors

Amounts falling due within one year

2023
£

2022
£

Trade creditors

1,048

-

Accruals and deferred income

1,797

1,680

Other creditors

710

1,302

Corporation tax

4,361

2,621

7,916

5,603